JPMorgan Chase & Co. lowered shares of Qualys (NASDAQ:QLYS) from an overweight rating to a neutral rating in a report released on Friday, TheFlyOnTheWall.com reports. JPMorgan Chase & Co. currently has $24.00 price objective on the stock, up from their previous price objective of $20.00.
“The stock is up roughly 55% since Fall 2012 as compared to 22% for the S&P 500. The stock has gone through our $20 price target and we are increasing that price target to $24, but that only implies about 5% upside,not enough to continue with the Overweight rating, in our opinion. We believe these valuation levels price in expectations for further acceleration in subscription value related to newer products.,” the firm’s analyst commented.
A number of other analysts have also recently weighed in on QLYS. Analysts at Topeka Capital Markets initiated coverage on shares of Qualys in a research note to investors on Thursday, October 17th. They set a hold rating on the stock. Separately, analysts at Imperial Capital raised their price target on shares of Qualys from $20.00 to $24.00 in a research note to investors on Tuesday, September 17th. They now have an outperform rating on the stock. Finally, analysts at Credit Suisse reiterated a hold rating on shares of Qualys in a research note to investors on Friday, September 13th. They now have a $17.00 price target on the stock. Four analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Qualys presently has a consensus rating of Buy and a consensus price target of $20.38.
Qualys (NASDAQ:QLYS) opened at 22.74 on Friday. Qualys has a one year low of $10.15 and a one year high of $23.21. The stock has a 50-day moving average of $21.6 and a 200-day moving average of $16.59. The company has a market cap of $727.7 million and a price-to-earnings ratio of 311.51.
Qualys (NASDAQ:QLYS) last announced its earnings results on Monday, August 5th. The company reported $0.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.03 by $0.02. The company had revenue of $26.30 million for the quarter, compared to the consensus estimate of $26.14 million. During the same quarter in the previous year, the company posted $0.02 earnings per share. The company’s revenue for the quarter was up 18.5% on a year-over-year basis.
Qualys, Inc (NASDAQ:QLYS) is a provider of clouds security and compliance solutions that enable organizations to identify security risks to their information technology (IT) infrastructures, help protect their IT systems and applications from cyber attacks and achieve compliance with internal policies and external regulations.
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